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August 12, 2014

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Railway station land to be developed

CHINA will develop infrastructure on land around railway stations to offer financial support for the debt-laden railway sector, the State Council, China’s Cabinet, said in a statement yesterday.

The sector will benefit from income generated from land development. The reform also will combine railway construction with urbanization in the country.

A boundary of 50 hectares, including the station area, is set for most land development projects. But in special cases, it may cover 100 hectares.

The State Council also urges local authorities to reasonably determine the boundary and scope of such land projects and to create a fair and competitive market climate.

Transport hubs will also be built to offer convenient transfer for passengers.

Planning of the new railway stations should be supplemented by measures to manage the land around them. There should be unified standards over the building of the station and the development of land.

The State Council said it encourages railway operators to efficiently use and mobilize existing land resources, including the renovation of old railway stations and peripheral areas, in order to help companies fund railway projects and increase revenues.

Companies permitted to use government-allotted land for railway construction and operation may allow other parties to invest in or rent the land, or transfer land-use rights among subsidiaries or stake-holding firms, the statement said.

The reform enhances a national plan issued in August last year that required local governments to support railway companies via land development because many provinces had expressed financial reservations.

China Railway Corp, the country’s main railway builder, said 199.63 billion yuan (US$32.44 billion) were invested in rail infrastructure in the first half of 2014, up 6.8 percent annually.




 

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